AI is reshaping wallet security, Jameson Lopp says after Coldcard thefts

The flaw behind more than $83 million in Coldcard bitcoin thefts is about more than a single hardware wallet failure, according to Casa co-founder Jameson Lopp. It shows a broader change in cybersecurity, with artificial intelligence reducing the time needed for both attackers and defenders to uncover software vulnerabilities.

In The Block’s The Starting Block podcast, Lopp claimed that large language models (LLMs) are changing software security by minimizing the cost of discovering bugs.

“Advancements in large language models are drastically changing the security landscape,” he said, claiming that the Coldcard incident is one of the first examples of the phenomenon, which is expected to have ramifications for many wallets.

A race that cuts both ways

According to Lopp, it is less a case of malfunctioning hardware than that of changing security software. From being the sole privilege of well-funded security teams, AI-powered code analysis has gone mainstream. As a result, attackers can now access public code repositories for missed vulnerabilities prior to developers finding them.

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